International Flavors & Fragrances Inc. (NYSE: IFF; Euronext Paris: IFF; TASE: IFF) has announced that its Frutarom Division has completed the acquisition of 60% of the share capital of Thai savory solutions company The Mighty CO. LTD. The company says that this is a continuation of its growth strategy in Southeast Asia.
IFF completed the acquisition of Israeli company Frutarom for $7.1 billion in October last year.
IFF Frutarom Division president Amos Anatot said, "The completion of this deal with Mighty underscores that the Frutarom division will continue on its growth strategy and pursue attractive companies that create new opportunities or build on current capabilities. In this case, we are helping to grow our capabilities in savory solutions - already an area of strength for legacy Frutarom, now IFF."
Mighty was founded in 1989. It develops, produces and markets reaction flavors, with particular expertise in savory solutions. The company’s portfolio includes flavors, seasoning blends, marinades, and specialty functional raw materials for the food and beverage industry.
IFF's share price is currently up 3% on the Tel Aviv Stock Exchange.
Published by Globes, Israel business news - en.globes.co.il - on January 20, 2019
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